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TS-AWM-02 Trust & Stewardship Asset & Waqf Management CORE Excellence v2.9.7

Annual waqf ROI & impact report

Evaluating whether the organization produces and publishes an annual report detailing the financial total return (net of fees) and social impact of its waqf (endowment) assets. It assesses the organization's commitment to transparent reporting, performance accountability, Shariah compliance, and balanced measurement of financial and social returns. Such transparency fulfills the duty of amanah (trust) in stewardship, demonstrating how endowed assets actively advance the maqasid al-Shariah (objectives of Islamic law) to serve the maslahah (public interest).

KPI / Measure
MetricWaqf Reporting Composite Score
TargetAll 5 dimensions met
FrequencyAnnual
MethodAssessment against 5 dimensions: Timeliness, Coverage, Financial Net Return, Impact Outcomes, Compliance
UnitComposite Scale
Maturity Levels
Level 1: Initial/Ad-hoc

No formal report on waqf performance exists. Financial data may be tracked internally but is not compiled or analyzed for performance review.

Level 2: Developing

Internal income/yield reporting only. The organization tracks basic income but lacks total return calculations, benchmarks, cost disclosures, or a defined impact methodology.

Level 3: Established

A formal annual report is produced that details total return (potentially gross or unbenchmarked) and includes qualitative impact stories. Limited disclosure on deed compliance or Shariah governance.

Level 4: Advanced

Comprehensive report published within 6 months with ≥80% asset coverage. Discloses net total return vs benchmark and CPI. Uses a defined impact methodology with outcome indicators. Demonstrates transparency.

Level 5: Optimizing

Published within 4 months with ≥95% coverage. Full fee disclosure and net return analysis. Includes ISAE 3000 assurance on impact, explicit deed compliance/istibdāl register, Shariah attestation, and documented corrective actions.

Applicability

Organisation Types

charity-relief humanitarian-aid zakat-sadaqah-body islamic-school-madrasa educational-institution supplementary-school islamic-university-college islamic-center mosque-prayer-space bank finance-provider investment-fund insurance-provider

By Organisation Size

SizeApplicabilityNotes
Micro exempt Disproportionate; micro charities lack complex waqf portfolios requiring institutional reporting.
Small exempt Lacks resources for complex financial methodologies like IRR or RICS valuations.
Medium partial Scaled down to basic income and impact reporting; institutional metrics (IRR, RICS) are disproportionate.
Large partial Formal ROI and impact reporting expected, but advanced impact architecture (e.g., deadweight analysis) may be scaled down.
Major full

Applicable When

  • Organization manages Waqf (endowment) assets
  • Waqf assets are generating financial returns or social impact
  • Organization has a legal or ethical obligation to report on its activities

Not Applicable When

  • Organization does not manage any Waqf assets
  • Organization is purely operational and does not handle any endowments
  • Organization is a newly established entity with no track record of Waqf management

Discussion (1)

Administrator 2026-03-07 11:07:35.791159

📋 **Version updated: 1.0.0 → 2.9.7** **Changes:** Updated islamic_references from mizan-297.json

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